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January 2016

Marketers overloaded with data and struggle to use it

The study is based on insights from more than 150 senior marketing executives surveyed primarily across North America and Europe during the fourth quarter of 2015 and was conducted in partnership with Pegasystems, a provider of strategic business applications.

Marketers looking to deliver exceptional customer experiences are increasingly turning to personalization as the key driver to maximize customer value.

But this will require redefining data's value and primary role, moving away from using data as a vehicle to calculate past performance metrics and into a critical tool to uncover new, real-time insights about customer behavior—including how customers react to different trends, news, offers, deals, product promises, promotional prompts, recommendations, social commentary and personalized messages.

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Marketers fail to make most of data

The marketing world has no shortage of data but it does lack an ability to utilise this to predict customer behaviour and deliver personalised content, a new study has said. 

The study from the CMO Council – Predicting Routes to Revenue – was based on insights from more than 150 senior marketing executives surveyed across North America and Europe during the fourth quarter of 2015.

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Mobile and Social Are Overrated, Marketers Say

Mobile and social are not critical to your marketing department's ROI — least according to the marketers participating in a survey just released by the CMO Council. 

Only 5 percent of marketers rated a mobile-first campaign execution to optimize mobile engagement as critical to revenue and profitability. And just 7 percent look at social engagement channels, including click-to-buy and social service plug-ins, as critical to do the same.

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Personalization Progress Stalled by Lack of Insights

When it comes to personalization, real time remains theright time to engage customers and prospects. But the clock keeps ticking even as brands struggle to achieve relevance, personalization, and fulfill their brand promises.

This constant struggle stems from marketers' inability to reach customers' full potential due to a lack of insights, inaccurate data alignment, and no visibility into the customer lifecycle. The CMO Council's study, "Predicting Routes to Revenue," released yesterday and conducted in partnership with Pegasystems, highlights these disparities. 

The study surveyed more than 150 marketers to better understand how these professionals are making the real-time decisions that impact customer engagement strategies and maximize revenue potential. Although most marketers said they recognize the need for real-time personalization and consistent experiences, many say they're unable to advance their efforts because of a lack of forward-looking campaign metrics and an incomplete view of the customer.

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The future of personalization

If you haven’t been thinking about the future of personalization — you should. The CMO Council released a fascinating study today, looking at how marketers are viewing/using personalization and what that means for all of us down the road.

The study, done in partnership with Pegasystems, is entitled “Predicting Routes to Revenue, and found that nearly half of marketers say their current analytics programs have the ability to give a clear view of past performance but do little to shed light on the road ahead.  The study is based on insights from more than 150 senior marketing executives surveyed primarily across North America and Europe during the fourth quarter of 2015.

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Marketers Feel Overwhelmed By Predictive Data Amid Struggle Over ‘Customer Experience’

A slim 5 percent of marketers express confidence in their ability to adapt and predict the customer journey in an efficient way, while 48 percent confess most of their analytics falls behind separate department walls and is not well aligned, a study by the CMO Council has found.

In a survey of 150 senior marketing executives across North America and Europe during Q4 2015 in conjunction with business software provider Pegasystems, marketing execs say they feel “overloaded” with predictive analytics and are largely unable to make that data actionable in a manner that makes connecting with shoppers easier for both sides of the transaction.

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Most marketers can’t predict the customer journey and admit they aren’t maximizing revenue

If we believe what we’re being told, marketers in 2016 should be able to take the overabundance of data at their fingertips and leverage it for their benefit, day in and day out.

But according to a new study, released today by the CMO Council and conducted in partnership with Pegasystems, it appears this isn’t the case at all.

In the report — entitled “Predicting Routes to Revenue” — only 5 percent of marketers say they have mastered the ability to adapt and predict the customer journey and truly understand which actions will derive maximum value.

That’s a pretty grim finding, but it gets worse.

The study — which is based on insights from more than 150 senior marketing executives surveyed primarily across North America and Europe during the fourth quarter of 2015 — also reveals that only 3 percent of respondents said they were realizing the full revenue potential of their customers. Almost half (47 percent) said they were not maximizing revenue, 44 percent said they were working on it, and 6 percent revealed that they simply didn’t know how well they were doing at all.

In general, however, the report offers a hard reality check, showing once again that in the real world of marketing, having access to the data isn’t, in itself, that useful. Having clean data that provides a full 360-degree view of the customer, thereby opening up the opportunity for personalized marketing, does help. Unfortunately, most marketers just aren’t there yet.

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Report: Marketers Failing to Realize the Full Revenue Potential of their Client Base

Past research has indicated that marketers are focused on enhancing the customer experience to boost their bottom line, but new data shows that they are struggling to achieve their objectives. The “Predicting Routes to Revenue” report from the CMO Council has found that nearly half of marketers (47 percent) claim they are not realizing the full revenue potential of their customers.

While 44 percent of respondents said they are “getting there,” only 3 percent believe they are doing so. Additionally, 66 percent said they are “hit or miss” when it comes to delivering promises to clients.

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CMO Council: Marketers struggling to personalize, create real-time interactions

A new study from the CMO Council shows that marketers are facing challenges in personalizing interactions with customers, creating real-time interactions, and shaping customer journeys and outcomes.

The "Predicting Routes to Revenue" survey, which was conducted in partnership with Pegasystems, polled more than 150 senior marketing executives primarily across North America and Europe during Q3 ad Q4 of 2015.

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Be Predictive And Personal, Says CMO Council Study

How well are you using data to anticipate what’s ahead and then prepare for it? Although most marketers aren’t Warren Buffet, they have to get close to that, when it comes to knowing what their consumers want and need today, and what they’ll want tomorrow. Are they? In a new study from the CMO Council, only 5% of marketers said they can predict the consumer journey and adapt to it fast. 

In “Predicting Routes to Revenue,” involving some 150 senior marketing executives in North America and Europe polled in the fourth quarter last year, 23% of respondents said they are able to develop predictive insights into broad customer trends, while another 20% felt they are only able to predict the next best action and struggle to move beyond that first step. Two-thirds said their success in delivering on their brand promise is sketchy, with 14% saying they aren’t delivering at all. 

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Travel 2016: Europe's Out, While Asia, Australia And South America Are In

As a result of several high-profile attacks around the world, terrorism has become a concern among countless international travelers in a way that it has not been in years past.

Add to that the uncertainty associated with climate change and the growing frequency of natural disasters, and you have yet another source of hesitation among globe trotters when it comes to travel in 2016.

And while industry experts insist that bookings remain steady, or perhaps busier than usual in a show of solidarity with affected countries, there is no denying a shift in patterns among large swaths of the traveling population, one that's more than likely tied to the past year's events.

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December 2015

Terrorism, Turmoil Biggest Travel Deterrents, Survey Show

Although the probability that they will impact one's trip is extremely low, the number of travelers concerned about terrorism, war, and disease is extremely high, according to a new study conducted by the Chief Marketing Officer (CMO) Council's GeoBranding Center in partnership with AIG Travel.

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Global travel anxiety audit finds island destinations safest, terrorism and turmoil biggest deterrents to tourism

In a new study undertaken by the Chief Marketing Officer (CMO) Council's GeoBranding Center and AIG Travel. Data for the report, entitled "How Global Voices Shape Travel Choices: The Impact of Consumer Apprehension on Travel Intention" was collected from more than 2,000 American, European and other global travelers worldwide during October 2015 via an online survey by the CMO Council and Travelzoo.

The research aimed to gather consumer views and specific areas of concern that lead travelers to alter their plans, intentions or destination picks. Among these events and incidents are terrorist attacks, natural disasters, disease outbreaks, regional conflicts, political upheaval, crime and violence, civil unrest, plane crashes, and cruise line accidents or food safety issues.

The study reveals that personal safety has become a major concern for tourists as real-time news channels multiply and social media postings bring first-hand accounts of incidents or situations to aspirational leisure travelers, impacting decision-making around desired destinations. More than 60 percent of survey respondents report that turmoil, health hazards or active conflicts could sway or even deter their travel to a specific country or region. 

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Inside Africa's tourism crisis

A new global survey by the CMO Council’s GeoBranding Center and AIG Travel, entitled “How Global Voices Shape Travel Choices,” shows that despite strong word-of-mouth support and lower concerns about costs and long flights, half of the potential travelers to Africa are simply avoiding the continent due to fears of personal safety, violence and diseases like Ebola.

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Global Anxiety Study Shows How Travelers Think

In a new study by Chief Marketing Officer Council’s GeoBranding Center and AIG Travel, titled “How Global Voices Shape Travel Choices: The Impact of Consumer Apprehension on Travel Intention,” which polled more than 2,000 travelers from across the globe during the month of October, travelers felt safest when vacationing on islands, or in Australia or New Zealand

The report also revealed, not surprisingly, that terrorism activity is the number-one reason tourists avoid certain destinations. One in four travelers has changed vacation plans in the past year due to global or local safety, security, or health concerns.

People still have that wanderlust desire, but the sense of anxiety is keeping them closer to home, and many are opting to travel domestically.

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What Can The Travel Industry Do To Fight 'Travel Anxiety'?

The fact is that travel anxiety has always existed, and now, with non-stop media coverage of every tragedy and disaster, it is quite high. If you look at the results of the CMO Council’s survey, the travel industry's best response seems to be to focus on giving people the tools that they need (namely, clear-eyed and truthful information) so that they can combat anxiety with facts and be able to plan their travels without being influenced by the internet's non-stop chatter.  

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'Worldwide' Travel Alert Update: Africa's Struggling Tourism Industry Slams Obama Administration

A global survey released last month by the CMO Council’s GeoBranding Center and AIG Travel showed that more than half of travelers trust government alerts above all other sources when deciding on safe travel destinations. The survey also found that half of the potential travelers to Africa are avoiding the massive continent due to fears of personal safety, violence and diseases like Ebola. One in four travelers changed or cancelled their vacation plans in the past year over safety concerns.

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Study Says One in Four Travelers Change Plans Due to Terrorism Concerns

A new study from the Chief Marketing Officer (CMO) Council's GeoBranding Center and AIG Travel reports one in four travelers has changed vacation plans in the past year due to global or local safety, security or health concerns, with terrorism activity topping the list of reasons tourists will avoid travel to certain destinations. Data for the report, entitled "How Global Voices Shape Travel Choices: The Impact of Consumer Apprehension on Travel Intention," was collected from more than 2,000 American, European and other global travelers worldwide during October 2015 via an online survey by the CMO Council and Travelzoo. 58 percent of the travelers surveyed were female, and the majority of respondents were over the age of 45. 55 percent were residents of the U.S. and Canada, 16 percent lived in the United Kingdom and 23 percent lived in Germany. Other respondents lived in countries throughout Europe and the Asia-Pacific region. 

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January 2015

Digital brand advertising suffers from poor measurement says CMO Council study

Advertisers want to allocate more money to digital brand advertising but they remain skeptical about the quality of metrics they are receiving.

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Digital 2015: The benefits of mastering adaptive customer experiences

Technology has caused a shift from product-centric to customer-centric business practices. The age of the customer has arrived and person-to-person engagement is both critical and profitable.

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CMO Council Contact
Donovan Neale-May
Executive Director
408-677-5300 x5333
donovan@cmocouncil.org

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