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The marketing landscape is changing

Chart - Drew McLellan is the Top Dog at McLellan Marketing Group

The Economist recently published their report The path to 2020: Marketers seize the customer experience, which tells an interesting tale of changing tides. The survey results identify the top priorities of these chief marketing officers, and while you'd expect to see new customer acquisition (because you always see that one), what is a little more surprising is how prevalent the idea of protecting and strengthening current customer relationships has become.

The report/insights are based on a global survey of almost 500 CMOs and senior marketing executives. Not only did they survey them, they also conducted some in-depth interviews to identify which technologies and customer trends are likely to change marketing organizations in the next year or two.

When all of the data was crunched and analyzed, there were two clear preferred strategies for 2016, which were focusing on customer loyalty and relationships, and also targeting customer acquisition.

Digging a little deeper into the data, we can see that the concept of personalizing the customer experience is gaining ground. In the past, it's been given lip service but it's been awkward to execute, and most organizations don't have the resources or bandwidth to manage it. But with automation software's growth, this has gotten to be much more elegant and easier to pull off, within a reasonable budget.

The 20-page report is free to download and has insights worth considering. 

 

Comments

This is great to see. Agree, Drew, that personalized experiences have been really hard to implement with the marketing stack we've been working with. Most automation tools were focused on lead gen and top of funnel activities, where you generally have fewer data points. The rich data to personalize an experience (IMO) is most readily available when we start thinking about a customer's lifecycle and how we keep a customer coming back.

Bill -- I think post sale is where marketing automation can really have impact. It can upsell, reinforce the sale, create a raving fan out of a lukewarm customer, create referral juice, etc.

But I agree with you -- the deeper into the funnel, the most potent the possibilities.

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