Look for technology and marketing thought leadership every month from Marketing Magnified.
|Sign up for the Mailing List|
With more than $1.5 trillion spent on marketing and communications worldwide, there are significant incentives for global enterprises to improve the way they allocate, optimize, and justify spend. Functional marketing silos are being imploded and tightly connected for improved collaboration, integration, workflow, and use of critical data using advanced marketing automation platforms.
Determining the optimal way to go to market has never been more challenging. A multitude of new media channels and online/mobile avenues of market access are fragmenting media buys. Channels of distribution are multiplying, requiring broader, more diverse, and customized marketing support. Sophisticated customer information gathering and database marketing techniques are seeing big shifts of marketing resources in areas that allow for improved behavioral targeting and personalization to optimize response and revenue potential.
Market pace and velocity require more efficient and intimate online customer engagement, quicker product uptake, and viral affirmation through social and shared interest networks, as well as greater prominence and cost-effective prospect acquisition through websites and contextual search optimization, web content delivery, and pervasive mobile connectivity with customers.
Today's marketing planning process requires better data integration and analytics, more accurate forecasting and predictive modeling, higher levels of marketing group participation and accountability, as well as the deployment of closed-loop campaign performance dashboards. This will be driven by a wider embrace of marketing automation platform processes, continuous business activity monitoring, and intelligence gathering across all customer touch points, interactions, and transactions.
Customer expectation in the digitally driven world demands targeted, relevant, and meaningful engagement at every turn. As more customers consider defection from brands because the information, content, services, promotions, and engagements lack relevance and resonance, marketers must look to data-driven strategies that deliver the right message to the right customer at the right time—and in the right channel. This is data-driven precision marketing.
Targeting and personalization, a new option in this year’s survey, also is a focus for digital marketers, with 37% citing it as top-3 priority. Some areas taking a step back from last year include content optimization (31%, down from 39%), brand building/viral marketing (26%, from 32%), video marketing (9%, from 21%), and social media analytics (9%, from 19%). Connected TV, also a new option this year, failed to garner a vote. MarketingCharts
In 2013, 39% of in-house digital marketers surveyed tabbed content marketing, up from 29% last year. Tied with content marketing at the top of the list was conversion rate optimization (up from 34% last year), slightly ahead of last year’s leader, social media engagement (38%). MarketingCharts
Almost three out of four businesses (71%) plan to increase their digital marketing budgets this year, according to stats included in the new Econsultancy/Responsys Marketing Budgets 2013 Report. eConsultancy
82% of the U.S. marketers are expected to increase mobile media marketing strategy by 82% followed by social media 76%. Well this co-relates with another report where marketers are not actually ready for mobile marketing. dazeinfo
Marketers were less preoccupied with turning more efforts toward paid search (search engine marketing) with 59% and email campaigns with 56%, although more than 50% of marketers still expected to increase their focus on these channels as well. dazeinfo
71% of CMOs feel unprepared to deal with the data explosion over the next five years. 68% feel unprepared to deal with social media. 65% feel unprepared to deal with the growing number of channel and tech device choices. InformationWeek
23% of the CMOs IBM surveyed rely extensively on external partnerships for IT initatives today. 61% think they'll rely extensively on them over the next three to five years. InformationWeek
Traditional media has worked well for marketing to Hispanics, but the shift to the digital sphere has also seen changes in Hispanic media consumption. For starters, there are currently over 32 million US Hispanics online; and this number is expected to reach 42 million within the next 3 years. eConsultancy
US Hispanics are also digital critics. Thirty-nine perecent of Hispanics post ratings and reviews of products they've purchased and services they've recieved. They also comment on blogs and websites, while only 15% of non-Hispanics participate in these activities. eConsultancy
58% of respondents said they lacked the skills and technology to perform analytics on marketing data, and more than 70% said they aren't able to leverage the value of customer data. WDM Group
Some 75% of enterprise decision makers polled in a recent survey believe that leveraging data will help their companies dramatically improve their business, yet more than half feel they currently lack the tools to mine true customer insights from the data generated by digital and offline efforts. WDM Group
Data shows new digital media are experiencing a rapid adoption rate - 78 percent of B2B companies, for instance, report using social network marketing - but that marketing measurement is not keeping with the same pace. "In particular," the study claims, "measurement of digital marketing with financial metrics (such as market share, revenue, profit, or lifetime customer value) is lagging. Only 14 percent of those companies using social network marketing are tying it to fianancial metrics." KO Marketing Associates
Marketers are more likely to say that marketing staff (28%) participate in making digital marketing technology recommendations than the CMO (17%), the IT department (14%), and the VP of Digital (11%). MarketingCharts
38% expected to decrease their investment in paid traditional media, compared to just 16% for paid digital media, and 9% for earned/owned media. MarketingCharts
Although client marketers said traditional media still makes up the majority of their budgets, only 22% forecast increase in traditional media spending thie year compared to 2011, while half expected to increase their paid digital media spend, and two-thirds their earned digital media spend. MarketingCharts
Almost three-quarters of enterprise decision makers report a shift in budgets from traditional advertising to digital in the past year, according to a March 2012 report from DataXu. MarketingCharts
About one-third say that more than half of their budgets have shifted from traditional to digital marketing, while an additional 23% report between 26% and 50% of their budgets moving to digital. MarketingCharts
According to Forrester Research, spend related to search marketing, online display advertising, email marketing, social media, and mobile marketing will collectively grow to nearly U.S. $55 billion by 2014. More importantly, as marketers are getting better at balancing channel investments with consumer media time, digital spend will increase from 12% of overall advertising to over 21% by 2014 as marketers shift dollars away from low-performing traditional media into more relevant interactive channels. Forrester
According to online privacy service provider TRUSTe, just 10% of US adults reported being worry-free regarding their online privacy. Though the level of online privacy concern varied in degree, a large percentage of respondents reported significant unease: 21% worried frequently, and 23% always worried about their digital privacy. TRUSTe
Market research company uSamp surveyed 600 social media users who visited such sites at least a few times a week. It found that 28.2% of both male and female respondents said they were somewhat or very uncomfortable with the privacy protection on social media sites, and another 4.2% said they were uncertain. Comparing men to women, by age, a higher percentage of men were very or somewhat comfortable with privacy protection, with the exception of respondents ages 50 and older. Of females that age, 57.2% were somewhat or very comfortable, compared to 45.2% of men ages 50 and up. uSamp
Integrated Campaigns Increase Conversions - Lorel Marketing Group
How to Generate Quality B2B Traffic with Social Media in 2012 - Lorel Marketing Group
Mobile Marketing in 2012 - A Vehicle to Grow Your Business - Lorel Marketing Group