Iterative implementation is an approach that allows you to launch a campaign early, get feedback from the market, and optimize it further.
In marketing, that’s the application of A/B testing or optimization where you test different elements or variables to find out which one will give you a better outcome.
The feedback from the market matters more than all the planning and forecasting. Until you get market feedback, everything are just assumptions.
And assumptions about the market are very dangerous. A lot of businesses fail because they thought the market will behave like this, but behaved the other way (and failed to pivot).
Another benefit of an iterative approach is you get to adapt to changes in the market faster.
From an economic perspective, the market is where an exchange of value between the customer and the business happens.
One of the characteristics of the market is that it is efficient. What that means is if you’re product does not provide value equivalent to its price, the market will switch to another product.
If you fail to adapt to these changes quickly, you could end up on the losing end.
At the end of the day, an iterative approach to campaigns and projects is essential to digital marketing success.