Amit Freidman

Amit Freidman is a marketing genius. He currently partners with multi-billion, multi-national enterprises, creating distinctive brands and boosting product sales by performing market research, analyzing sales data, and developing compelling marketing material, such as infographics, websites, and social media campaigns.

Freidman began his marketing career in the 1980s, and moved to San Francisco in the early 1990s, where he started his own consultancy and eventually became head of marketing at a firm called New York Life. While there, he helped grow the company’s life insurance portfolio from 10 to 35 million in assets, and oversaw the introduction of several new products.

In 2017, Freidman founded SEVEN Product Labs, a marketing firm focused on digital marketing and product launches. He also serves as chairman of a marketing research firm, Marketecology, and is on the advisory board of two other companies.

The Role of Marketing in an Overwhelmed World

Marketing is an essential part of selling a product. However, in today’s digital world, marketing becomes more important the more a business grows.

Global research firm GAP Marketing found that while 57% of respondents cited brand awareness as the biggest challenge they face, only 22% mentioned digital marketing as one of the main causes of this issue. In fact, only 4% of respondents said their top challenge was online marketing and conversion optimization.

Furthermore, 42% of respondents said that their biggest challenge is convincing people to buy their products or services. This is especially crucial for B2C companies, where the consumer is in control and has the power of choice. In these scenarios, marketing can help create demand and drive purchasing decisions.

On the other hand, 26% of respondents said their biggest challenge is converting casual traffic into paying customers. This might be explained by the fact that digital marketing strategies are more complex and costly to implement than traditional marketing practices. For example, display ads on social media cost upwards of $5-$15 CPM, compared to $1-$3 CPM for a banner ad on a traditional website.

This increased costs inevitably translate to higher CAC (Cost-to-Acquire) for advertisers. In other words, if you have a $100 budget for marketing and you want to reach 1,000 people, you’ll have to spend $100,000 to attract their attention (assuming you reach 100% of your target audience).

While 1,000 impressions may sound like a lot, in the digital marketing world, that’s called micro-moments. In these cases, every impression or click may not be exactly what the advertiser was looking for. In the world of digital marketing, even one false click can waste a lot of money.

This is why marketers should always make sure they’re testing different versions of their ads and monitoring the performance of each variant. In addition, 41% of respondents said that ineffective metrics and analysis of data is one of the biggest roadblocks to effective marketing. It’s essential that marketers have the right metrics in place to know if their strategy is working or if they need to tweak their approach.

Why is Digital Marketing Important in 2022?

The fact is digital marketing will never really go out of style. With the world moving more and more to a digital sphere, marketers need to keep up with the times, and so do their strategies.

In 2022, digital marketing will continue to evolve, changing with the times and improving upon itself. Here are four ways digital marketing will continue to evolve, and how you can stay ahead of the curve.

Customer-Centric Marketing

In 2022, customer centric marketing will become more important than ever before. In the old days, companies would heavily advertise their product, perform market research, and then adjust their approach, based on what they learned.

Today, however, consumers are more intelligent than ever before, and have more options than ever before, making it harder for businesses to ‘wow’ them with superlative products and services. Furthermore, companies that truly understand their customers can identify key consumer pain points and then design products and services to satisfy these needs.

With this in mind, we see a shift towards marketing that involves more listening than talking. Market research will become increasingly important to determine consumer needs, as well as the type of language the business uses, and how it interacts with customers.

Personalized, Rewarded, and Inorganic Marketing

In coming years, marketers will increasingly focus on individualized, rewarded, and inorganic marketing. This trend began in earnest during the COVID-19 pandemic, where businesses had to adapt their marketing strategies to attract customers, while also protecting their staff, and ensuring they were following government regulations.

In the wake of the pandemic, many businesses pivoted to online marketplaces to conduct their customer interactions. What’s more is that in these cases, marketers had to work remotely, and ensure that their online marketing strategies were up to date and effective.

In the next few years, we will see many more businesses, entrepreneurs, and marketers pivot to online marketing, as well as adopt other digital tools, such as AI, chatbots, and machine learning.

Personalized, rewarded, and inorganic marketing are all terms that describe the digital marketing activities carried out by businesses and professionals, but it’s not exactly an easy feat. To succeed, marketers must constantly be adapting, learning, and pivoting to ensure they’re reaching the right audience, with the right message, at the right time.

Customer Research And Segmentation

In the next few years, marketers will place more emphasis on customer research and segmentation, to craft more targeted marketing plans and strategies.

In 2022, marketers will be using multiple methods to reach their audience, including social media, content marketing, and email marketing. Customer research and segmentation will be crucial to determine what works best for a given group of individuals. For example, if you’re trying to sell hair extensions to women in their twenties, you might want to experiment with online marketing and learn from your failures, as well as your successes.

The best thing about this strategy is that you can test different approaches, using A/B testing, to see which one performs the best, and then replicate that success in the future.

AI, Machine Learning, And Personalized Content

In the last few years, we have started to see an evolution in content marketing and marketing as a whole, with businesses, entrepreneurs, and marketers increasingly relying on AI and machine learning, as well as the creation of personalized content.

AI, in particular, is rapidly changing the way we do marketing and content creation. Thanks to powerful engines like Google AI, we’re seeing content go from human-edited to AI-generated in about a minute. In the next few years, we will see AI play a more prominent role in the way companies and marketers operate.

Personalized content is also taking the marketing world by storm. Thanks to platforms like TikTok, which allows anyone to post an animated video and have it promoted to their audiences, content creators, marketers, and businesses large and small can now easily build a personalized audience, based on their favorite keywords, hashtags, and descriptions.

Personalized content is becoming more prominent, and so is content creation, as businesses realize that creating unique and personalized messages to their audience can significantly increase the chance of the message being retained and actually listened to. In the next few years, we will see more and more businesses, entrepreneurs, and marketers investing in content creation.

The role of marketing in an over-crowded world will only continue to evolve. As businesses become more data-driven and digital marketing becomes increasingly important, customers will benefit from unique offerings, customer-centric strategies, and inorganic growth.