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Although this is positive and welcoming news, marketers need to have a good level of digital marketing knowledge and the IAB (Internet Advertising Bureau) says that; “Even digitally adept marketers are staggered by the amount of information available to them through digital media.”

It’s widely accepted that there is a lack of digital understanding and in a sector that is moving so quickly it’s imperative that businesses keep up with the latest developments. Ray Clark from www.digitalmarketingshow.co.uk explains how his event plans to address the huge gap in digital knowledge; “ There is no doubt that ‘digital’ is the way forward for businesses of all sizes and there is certainly an appetite for information, ideas and advice from UK marketing professionals. The issue until now has been that existing events tend to be very technology orientated and are aimed at marketers who already have a level of expertise.”

Map the pieces: This is perhaps the most challenging step. The overarching goal is to create an “ecosystem,” or community, of some sort–in short, a company’s own network that includes customers, prospects, and partners. This enables increased engagement with existing members, while promoting growth by adding new members. A place to start is understanding where the company stands across three distinct digital approaches–search engine marketing based on static Web sites and perhaps email marketing systems; permission-based inbound marketing based on attracting opt-in members and then building engagement through customer relationship management systems and content nurture streams; and social marketing and social sales based on understanding and leveraging social networks. One key question to ask is, “What should be at the center?”

the CRM system may take the central position rather than the Web site.

the real benefits come from achieving local leverage by encouraging a wide range of employees and partners to develop their own social presence, as well.

executives need to understand and articulate how the structure reflects the approach to growing customer lifetime value.

Assemble the components: Once the pieces are mapped based on the shape of the customer opportunities, the next challenge is to assemble a specific set of components with an eye toward flexibility and cost effectiveness. Given the remarkably rapid rate of innovation, leaders need to avoid being locked into expensive commitments that won’t be easy to continue to change. A series of principles can really help here.

build, test, and monitor prototypes until they work perfectly. Investing extra time and effort at this stage can make the step of expanding the system much quicker and less expensive, as well as making broad implementation much smoother.

Engage the organization around content, and marshal the resources to make it successful. Once a system is developed, it has to be used to full effect to capture the available benefits. And in today’s world, that requires a large, steady stream of content. Types of content include articles, blogs, white papers, contests, games, webinars, videos, posts to discussion groups, tweets, and infographics (to name a few). Increasingly, content generation is evolving into a companywide responsibility, rather than simply a marketing responsibility. Senior executives need to embrace and then encourage this. Although this is a relatively undeveloped area, management processes that reward the generation and dissemination of great content will undoubtedly lead to great value. And social management platforms that enable rapid and easy sharing of existing content, along with monitoring for compliance purposes, are already enjoying rapid growth.

Constantly measure and monitor in order to learn and improve:

margins should improve, acquisition costs should drop, and churn rates should decline