Why has growth become such a challenge? What shifts have occurred in the customer journey, and how do we chart a path forward?
To address these questions, we need to recognise that the traditional growth formula is now obsolete. The landscape has changed: it’s harder to attract visitors to your site, more difficult to convert them into customers, and even tougher to retain them.
Declining traffic, lower conversion rates, and reduced retention have all contributed to stagnated growth. Recent metrics highlight this issue starkly: win rates have dipped from 23% to 19% over the last two years, and only 50% of sales reps are meeting their quotas this year, down from 66% two years ago. (INBOUND 2024 Survey Data)
What Exactly Has Changed?
The dynamics of Search, Social, and Customer Channels have fundamentally shifted.
Search
Previously, search engines provided a list of blue links in response to queries. Now, with the advent of AI and tools like Search GPT, consumers receive direct answers without needing to leave the search engine.
Social
Social platforms have evolved into destinations themselves, offering a sticky user experience that keeps visitors engaged on their sites longer. As a result, these platforms are no longer driving traffic to external sites, holding onto their users instead.
Fewer Visitors to Your Site
Search volume is projected to decline by 25% by 2026. Customers prefer engaging with people rather than brands. Seven out of ten customers trust recommendations from individuals over companies, turning to forums like Reddit, YouTube, and peer referrals before visiting your website. By the time they reach you, they’re often more informed about your offerings than you are about their needs.
When you do connect, the expectations are higher—conversations must be meaningful and insightful.
The Traditional Growth Formula Is Broken—What’s Next?
Technology becomes transformative when it addresses old problems in innovative ways. We must now seek new insights to solve growth challenges.
Can AI Provide the Solution?
According to a HubSpot survey, customers are leveraging AI for acceleration and soon for transformation. Acceleration involves speeding up existing processes by automating tasks, complementing human effort, and is already happening. Transformation means redefining what’s possible, setting new goals, and is what’s on the horizon.
How Does This Apply to Marketing?
Marketing is fundamentally about attracting customers. Here’s how AI can accelerate marketing efforts:
- **Creating Content:** “Write me a blog.”
- **Personalising Content:** “Tailor this message.”
- **Distributing Content:** “Share content where my customers are.”
But if everyone uses AI, how do you stand out? You need to understand where AI excels:
AI is proficient at identifying topics, producing initial drafts, and iterating for diverse audiences, BUT, humans are better at refining these drafts with authentic insights.
AI offers context, while humans provide connection.
The evolving landscape of digital marketing and sales demands a fresh approach to growth. With traditional methods faltering in the face of declining traffic, conversion, and retention rates, businesses must adapt to the new dynamics of search, social, and customer engagement.
Leveraging AI can offer a pathway to not just accelerate but transform marketing efforts, creating content and personalising interactions at scale. However, the human element remains irreplaceable in refining and connecting authentically with audiences.
As we navigate this shift, it’s critical to blend technological innovation with human insight to chart a sustainable path forward.
