On one hand, generalists are versatile and can provide a more comprehensive approach to solving business challenges. Yet, advocates of using specialists often use the cliché of “jack of all trades and master of none” to describe the shortcomings of using generalists. More recently, the growing complexity of digital marketing combined with the high stakes nature of nurturing client relationships increasingly calls for the use of specialists.
The complex nature of marketing is partially illustrated by a recent Marketo study that found more than 61% of enterprises use more than six different technology platforms in their marketing stacks. Email marketing and digital advertising are just two examples that illustrate the complexity and challenges of modern day marketing.
Both examples also illustrate the high stakes nature of modern day marketing. Email technology has become a double-edged sword. It can make it easy to build databases and keep in frequent contact with customers by sending highly target communications. Yet, it is also riddled with potential pitfalls. As an example, consider the challenges for financial services firms that market to broker-dealers. Each broker-dealer is likely to have specific requirements that firms must comply with before sending out communications.
Some broker-dealers may require that regulatory agencies review white papers or podcasts before the content is disseminated while other broker-dealers may also specify that their own internal legal departments must approve materials before the communications can be distributed. Add to those challenges restrictions on the type of content or the type of products that firms will allow to be promoted among financial advisors and the end result is that email marketing can be a tricky undertaking.
From a customer nurturing perspective, firms must also limit the frequency with which they email prospects, which can be difficult when mailing lists come from a variety of sources. Modern email technology, of course, allows firms to greatly customize their email programs and be highly selective when creating mailing lists. Yet, many programs are complex, making them best suited for specialists who are less likely to make costly mistakes when launching new campaigns.
An email marketing specialist can also help to coordinate communications from different departments or product lines, thereby reducing the likelihood of alienating customers by sending out an excessive number of emails.
Digital advertising is another undertaking that may be best left to specialists. While programmatic ad purchasing is helping to automate digital advertising, some marketers now believe that more human oversight is required to help protect against fraud and to prevent content from appearing on inappropriate websites.
Advertising fraud gained increased attention earlier this year when digital security firm White Ops reported that a massive Russia-based operation that uses bots to replicate human web clicks on bogus internet sites is stealing up to $5 million a day from U.S. advertisers. At the same time, marketers have become increasingly concerned over examples of brands having their advertisements appear on political websites or in videos that promote terrorism.
