Increasingly, the greatest single challenge for B2B and B2C marketers today is creating and quantifying ROI across multiple channels with 78 per cent of U.S. marketers agreeing that understanding marketing technologies has become critically important.
With nearly half of B2B and B2C marketers intent on leveraging customer insights software over the next 12 months - marking a 10 per cent increase from today, a new global report by DataXu, which surveyed more than 500 senior marketers at major US and European brands indicates the sea change going on in marketing when it comes to data and digital media. The report notes that 65 per cent of marketers are now considered to be data literate and 72 per cent understand digital media to be transforming marketing today.
The report makes it clear that the widespread adoption of a variety of marketing technologies by US and global marketers is accompanied by both positives and pitfalls. Further, 41 per cent of global marketers and 37 per cent of US marketers are in agreement that the biggest challenge they face today is creating a marketing mix across all channels that drives results. What is evident from the report is that 23 per cent of those surveyed say that their teams are stretched too thin because they must manage so many marketing platforms and vendors. Additionally, some marketers say they work with ten or more vendors and or platforms across the marketing and ad tech landscape. With one-third of global marketers uncertain whether one marketing channel works better than another channel, they also see this as one of the biggest pitfalls to ongoing success within their teams.
“What’s clear from this study is that globally, marketers are charged with the success of their businesses more than ever before,” said Ed Montes, chief revenue officer, DataXu. “The promise of marketing and advertising technology has created an expectation of improved marketing effectiveness, but to deliver on that promise requires education and partnership around cross-channel optimization and customer analytics.”
The report also highlights plans among marketers to invest more in marketing technology over the next 12 months with 46 per cent of U.S. marketers intent on leveraging customer insight analytics in 2017, which is up from 36 per cent today. Further, the number of U.S. marketers implementing programmatic marketing in 2017 is slated to increase by 10 per cent.
“As marketers combat a fragmented consumer view, the use of analytical software becomes the crucial next step in achieving a 360-degree view of the customer,” adds Montes. “Marketers note a lack of visibility into the effectiveness of their marketing mix as a serious challenge, and there’s only room for improvement in attributing success across a marketing plan.”