Agile Marketing

Agile Marketing

Agile marketing is a tactical marketing method in which marketing teams pick high-value tasks first to complete them on time by devoting their full effort. It helps to increase organizational performance. It needs a strategic vision as well as marketing plans for the short, medium, and long term.

Most agile marketing strategies include executing tests fast, evaluating the results, and making adjustments based on a combination of data, analytics, and creativeness.

When used correctly, agile marketing helps you to instantly adapt to marketing trends, uncover new marketing possibilities, and capitalize on them before your competitors do.

Agile marketing is different from traditional marketing in that it focuses on frequent releases and deliberate experimentation. It also demonstrates a commitment to customer satisfaction.

Agile marketing aims to deliver projects faster and with better quality. To achieve this, you must streamline everything from the team structure to the project workflows to internal communication.

Agile practices have been common in marketing over the past decade, reflecting the rise in digital methods for working, gathering data, and communicating with customers.

Why Agile Marketing

High-tech companies adopt agile marketing first. Companies must be aware of changing customer behavior and trends in order to respond. This is a fast-paced product cycle that allows for rapid product iterations. High-tech companies are trying to maximize value before the technology goes out of date.

Many other industries are seeing shorter product lifecycles in the digital age. These industries are experiencing rapid changes in customer preferences towards products. Once compelling experiences can quickly become obsolete when everyone else has them.

Companies must constantly monitor and respond to ongoing trends on market. Businesses can’t replicate the customer experience because it was once very private. Copied products can not satisfy customers at the same level as the original product.

Companies can’t make long-term plans for their business without making many adjustments. The traditional, pre-planned approach to go-to-market is no longer efficient.

Businesses must match the speed of client shifts while also outpacing the competition. The new name of the marketing game is agility. For firms to scale up and grow, operational consistency used to be the only crucial success criterion.

Setting up Agile Marketing

Due to their limited resources, startups already possess agile mentalities. However, large companies should adopt agile marketing differently. Agile marketing is typically reserved for innovative projects that are focused on new growth engines. To ensure stable and profitable operations, the company must create separate teams.

An agile marketing organization has several key components

Create a Real-Time Analytics Capability

Agile marketing is able to quickly identify opportunities and problems for growth. Social listening tools are particularly useful for tracking conversations about brands and products on social media, as well as online communities. Geotagging is used to enrich the data and allow companies to track insights by region or location.

Companies can track customers’ journeys and analyze eCommerce marketing behavior in real-time. The pre-purchase customer journey can be better understood by using radio-frequency identification tags (RFID) on products. Retailers can, for example, see how long it takes customers before they make a decision to buy a product.

RFID tags allow customers to track their movements and improve their customer experience. To track visitors’ movements within its parks, Disney embeds RFID in Magic Bands. RFID tags are used by the Mayo Clinic to track the movements of its visitors. RFID tracking is used by B2B companies to optimize supply chains and manage logistics.

These data can be used to quickly determine causality between campaigns and results, or product launches and sales. The goal in other areas is to find the best product-market compatibility. Companies must have clear metrics that can be used to measure success. Companies can quickly experiment with real-time analytics to validate their learning and make adjustments.

Establish Decentralized Teams

Agile marketing involves multiple small teams working on different projects simultaneously. This model is based on scrum, which is a common method for software development. Each group is given a task and given a deadline to complete it in agile marketing.

Large organizations often struggle to align functions that have conflicting key performance indicators (KPIs). Each agile team should have cross-functional members with different expertise, including product development, marketing, technology, and so on. Employees feel more connected and have a greater sense of purpose.

Cross-functional teams can be suited to divergent thinking which is crucial in any innovation project. Each team must have the resources necessary to achieve the goals. Marketing plays an important role in analyzing insights, while engineering helps to develop prototypes. It is also essential to bring your ideas to life.

For agile marketing, traditional decision-making models that require multilayer approval are too complicated. Rapid decisions are essential, as delays can have a significant impact on the final outcome. Strong leadership commitment is required for a flexible model.

Senior management is responsible for agile marketing. They monitor progress and provide feedback at the strategic level. Most importantly, the top executives must coordinate all agile projects with company goals.

Create a Flexible Product Platform

Agile teams are known for their ability to quickly turn around projects. While the base product serves as the foundation, other modules can be added to enhance the product. Agile teams are modular and can be layered.

Software companies and other digital businesses are by default more flexible and agile when it comes to product development. It is not uncommon for automotive to develop products using a limited number of platforms. Automakers can maintain low prices while catering to different market needs.

To improve agility, tech companies are shifting their business model away from hardware ownership to digital service. Customers don’t upgrade hardware and software products as often, which results in longer sales cycles.

Tech companies are now offering subscriptions to services instead of selling software and hardware for enterprise customers. This new revenue model allows products that are fully integrated and constantly upgraded.

Flexible product platforms can be created by companies. Modular components can also be used to create mass customizations. Customers have the option to choose from a variety of configurations. Flexible product platforms enable teams to try different configurations until they get the best feedback.

Concurrent Process

A waterfall or stage-gate model is used to describe the innovation project. Each step, from concept development to launch, must be done in sequence. Without completing the previous phase, the process can’t move on to the next. This method is time-consuming and takes a lot of time.

Agile marketing uses the concurrent method instead of the concurrent model. In this case, different stages are run simultaneously. Concurrent processes offer another advantage, aside from their apparent speed.

The waterfall model is not appropriate for large-scale, long-term projects. Mistakes made late in the process can lead to a restart of the entire sequence. Structured models are also rigid and do not allow for any significant changes once the project has begun. These issues can be solved by the concurrent process.

Innovation does not happen in sequential order. Every component of innovation must be verified for its functionality so that project will not be disturbed later in the future. The work is broken down into smaller tasks with shorter milestones so that potential problems can be identified before the innovation is too far that can not be corrected.

For coordination purposes, agile teams should hold daily meetings. To ensure that the workstreams are compatible and aligned, it is essential to maintain constant coordination between and within teams. Agile teams should keep in touch with other team members and report progress and change in the project so that they can adjust to change accordingly.

Agile marketing also allows for concurrent development and experimentation. The teams won’t wait to test the new iteration in the market. They move on to the next iteration. Market testing must be done quickly between iterations in order to have an impact on future development.

Perform Rapid Experimentation

One of the most important aspects of agile marketing is rapid experimentation. Pre-launch market research is a key component of concept testing. Pre-launch research focuses on uncovering customer insights that can be used to develop new products or campaign ideas.

During concept testing, the ideas are presented to a group. The concept tests are still hypothetical and the respondents often do not have working prototypes that make their job tough to visualize the final product. The concept test may be biased. There is also a delay in receiving the results, making it difficult to make any changes.

Agile marketing is where actual products are made in small batches and sold directly to customers. The minimum viable product (MVP), which is a product that has just enough features to launch, is what agile marketing calls. It is important to quickly launch the MVP so companies can start learning.

Companies can use rapid experimentation and real-time analytics to improve their products or services. Companies can measure market acceptance immediately before launching the next version of their product.

Agile is about more than sticking with your original ideas. It’s also about making small, incremental improvements. Sometimes, the market acceptability is so low that it takes several iterations before the team has to change its course. This is called pivoting, which refers to going back to the drawing boards and rethinking problems.

Embrace Open Innovation

Open innovation is aligned to agile marketing. This approach allows companies to access a global network of solutions, ideas, and specialists. This does not necessarily mean that all work must be done in-house. Companies can take help of all available resources to them whether it is internal or external, the main target is to reduce marketing time.

Businesses today rely on outsourced companies for their innovation. This allows a global community of developers to build upon those technologies and then return the improvements back to the source. Google has, for instance, open-sourced TensorFlow (its advanced artificial intelligence, engine).

Companies can post their challenges and ask for solutions publicly. Third-party collaboration and customer co-creation have been shown to increase innovation quality. Singapore Airlines is looking for digital solutions to improve its customer experience through the AppChallenge. Zurich Innovation Championship seeks technology solutions for the insurance industry.

An open innovation marketplace is another way to find external solutions. P&G’s Connect+Develop platform allows the company to build partnerships with patent holders and innovators. InnoCentive provides a link between innovators and solvers in exchange for cash rewards.

Aligning the agile teams with the innovation partners is the biggest challenge in open innovation. To ensure close collaboration, agile teams are often co-located. Open innovation demands that agile teams collaborate with external parties. This makes agile a distributed agile model.

The Benefits of Agile Marketing

There are many benefits of agile marketing over traditional marketing methods. Agile methodology helps marketing teams to work smarter and more efficiently. These teams also achieve clearer and better results than traditional methods.

Quickly Respond to Changes

Agile is all about adapting to change quickly. Agile is built on the idea that projects can change, and not remain static. You can make plans but things change. These changes can be quickly reacted to by the best teams and capitalized on.

Data-driven Decisions

Real-time data can give you valuable insight into audience behavior. Clicks, traffic, and conversion rates give you valuable insight into how your campaigns and programs are performing and what can be done to improve their reach.

Innovation Increases

Marketing teams that use agile can uncover all sorts of insights faster by emphasizing rapid testing. This means that your marketing efforts can be driven more by actual data, and not guesswork.

Improves Efficiency

Teams can work faster if they eliminate unnecessary steps. This means that teams can execute more projects and have more opportunities to win customers. You can shift your time to important task and remove all unnecessary task from your priority list.

Customer Centric

This marketing approach keeps teams focused on the delivery of what customers and audience want, without getting bogged down with unnecessary documentation or meetings.

Cost Effectiveness

Marketing used to be slow and difficult to measure its performance accurately. Modern analytics and agile processes make it possible to deliver a higher return on investment for a lower cost.

You can recheck that you don’t waste your time or resources on methods that aren’t appropriate for your target customer. If a process does not provide desired outputs, you can immediately stop investing in it.

Frequently Asked Questions (FAQs)

Why agile marketing?

Agile marketing allows teams to remain on top of trends and learn what clients want in real-time. It is the need of the present time because it enables marketing teams to get a product or concept in front of people in a short amount of time, with a lower expenditure and lower risk.

Which companies use agile marketing?

Agile marketing approaches are used by many firms, both large and small. Many firms use Agile marketing, including Spotify, General Mills, Mozilla, IBM, Cisco, and Barclays.

What is the importance of agile marketing in health care?

Agile approaches can provide considerable benefits to the healthcare business. Some of these advantages include lower financial expenditures, better treatment, and continuous improvement.

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