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Mind the Marketing Gaps

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Many marketers believe that they understand the customer journey, but the findings from our latest report suggest otherwise.

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Mind the Marketing Gaps

  1. 1. MIND THE MARKETING GAPSMany marketers believe they fully understand the potency of the customer’s journey—but the findings of the third annual Cross-Channel Marketing Report would suggest otherwise...
  2. 2. THE WORLD IS NOW DIGITAL
  3. 3. How consumers interact with brands has changed forever. Whether accessing your marketing via wearable technology during a commute or in the evening on a tablet, consumers expect to be able to access your content whenever and wherever they are.
  4. 4. … many marketers are still struggling to create a seamless and consistent experience for consumers across all their channels. But as Oracle Marketing Cloud’s third annual Cross-Channel Marketing Report reveals… This leaves ROI-threatening gaps in their marketing strategies and failing to break down interdepartmental silos – all while revealing a fundamental misunderstanding of the customer’s journey.
  5. 5. The survey’s findings are based on feedback from nearly 1,000 digital marketers and e-commerce professionals.
  6. 6. THE INTEGRATION GAP
  7. 7. of responding companies agree their priority is for all key marketing activities to be integrated across channels. 67%67%
  8. 8. say they ‘understand customer journeys and adapt the channel mix accordingly’. But only… 43%43%
  9. 9. of companies have ‘cross-functional/cross-silo teams to facilitate integrated marketing’. Most worryingly, only… 30%30%
  10. 10. have ‘measured the financial results of conducting cross-channel or integrated marketing’. … while a mere… 19%19%
  11. 11. 1. Ensuring you have a clearly defined strategy in place. 2. Creating a silo-busting team that promotes and coordinates individualised customer experiences across all channels. 3. Putting processes in place that allow you to measure ROI. Fill the gap by…
  12. 12. DANGER!With no ROI measuring facilities in place, marketers run the risk of the C-Suite reducing marketing budgets and crippling cross-channel marketing strategies in the process.
  13. 13. THE CROSS-CHANNEL GAP
  14. 14. It’s more than a g a p.
  15. 15. of client-side respondents say their organisations are ‘very much set up to deliver effectively orchestrated cross-channel marketing activities’… Because only… 7%7%
  16. 16. state they are set up ‘to a certain extent’. … while… 49%49%
  17. 17. of companies are ‘not really’ set up. and... 35%35%
  18. 18. Of real concern is the finding that 62% of organisations believe their messaging, execution and delivery strategies are fragmented across touch points.
  19. 19. Fill the gap by… 1. Placing the focus on testing and optimising your marketing strategy to ensure cross-channel effectiveness. 2. Not obsessing purely on planning, design and content. 3. Ensuring that time is more evenly spent between different elements of a campaign to achieve maximum impact across all your channels.
  20. 20. Top 3 Roadblocks to Cross-Channel Delivery 1. Lack of resources. 2. No clearly defined strategy. 3. Company politics/vested interests.
  21. 21. of companies agree that they ‘focus on the customer not the campaign’. There are still companies who don’t realise that there’s been a seismic shift in marketing. The customer is now in charge, not the marketer. disagree. Seismic Shift, Ignored 51%51% 29%29%
  22. 22. THE MOBILE GAP
  23. 23. 2013 There is some positive news—the number of companies ‘integrating mobile into broader marketing campaigns’ is growing: of client-side respondents have a mobile strategy in place. 60%60%
  24. 24. 2014 of client-side respondents have a mobile strategy in place. 76%76%
  25. 25. MISSED OPPORTUNITY? The focus on mobile—and its integration into marketing strategies—is still small when compared to the opportunities that the channel offers to marketers.
  26. 26. THE ACQUISITION/ RETENTION GAP
  27. 27. The proportion of companies who say they are more ‘focused on acquisition’. The proportion of marketers who agree that it is ‘cheaper to retain than acquire a customer’. There’s more positive news when it comes to balancing the acquisition and retention of customers: 44%44% 70%70% 40%40% 82%82% 2013 2014
  28. 28. Fill the gap by… … remembering that research has shown: increase in customer retention can increase profitability by 75%. of a company’s future revenue comes from 20% of existing customers. 5%5% 80%80%
  29. 29. 5xThe cost to attract new customers compared to retaining existing customers.
  30. 30. REMEMBER: Ensure you have a clearly defined marketing strategy in place that maps the customer’s journey. Make your brand consistent and accessible to consumers across all your marketing channels. Bust silos to ensure that all departments are working together seamlessly. Ensure your marketing strategy isn’t paying lip service to the huge potential of mobile. Put processes in place that allow you to measure and show ROI – otherwise the C-Suite could make swingeing cuts.
  31. 31. Visit oracle.com/marketingcloud Copyright © 2015, Oracle and/or its affiliates. All rights reserved. Discover how to make your marketing strategy deliver on every front with our free eGuide: Modern Marketing Essentials Guide: Cross-Channel Marketing Download now MODERN MARKETING ESSENTIALS GUIDE CROSS-CHANNEL MARKETING A Prescriptive Guide Fortified to Build Stronger Marketing

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