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Waste or Win?The Case for Just-in-Time Marketing
CMOs estimate that fewer than 20% of the people they reach are potential customers for the product or service being offered, according to an Accenture global survey of CMOs across industries. On a cost-per-consumer-reached basis, this represents an estimated hundreds of billions of dollars being misspent annually.
It’s no coincidence that the companies most focused on reining in this waste are, consequently, also boosting the quality of their marketing—and enjoying stronger growth as a result.
Waste. It’s a big problem for marketers…
Wrong customers
Right customers
80%
20%
Broad awareness campaigns are losing their luster, and contributing to waste.
Fail to convert sales
Target the wrong customers
Become irrelevant fast
Done wrong, the pivot to personalized marketing experiences creates waste.
Marketers attempt to leapfrog the necessary foundation building that is necessary to master personalized marketing at scale, and they are disappointed with the results.
They cannot move beyond pilots and provide personalized experiences at scale without the right operating model and operational capabilities.
Personalized Marketing @ ScaleScale
Pilots
Current Mature
PERS
ONAL
IZED
EX
PERI
ENCE
S
MARKETING OPERATIONS CAPABILITIES
-$11.6 billion
Digital tools and technologies can be both a cause of and a cure for marketing waste.
* Joshua Bellin and Paul F. Nunes, “Lean, Targeted, Digital: How to Gear Up for Just-in-Time Marketing,” 2015 Accenture.com/justintimemarketing
More opportunities = More chances for missteps
Some marketing organizations are wasting billions marketing to Internet bots posing as real consumers. One study puts the 2014 loss figure at $11.6 billion.*
Digital tools and technologies can be both a cause of and a cure for marketing waste.
More channels = More silos within marketing organizations
Digital marketing evolved as an isolated specialty area. Separation of talent, tools and work streams across digital and traditional marketing activities created unnecessary waste.
CMOS recognize the consequences of all this marketing waste.
Less than half of CMOs are “very satisfied” with the value for money they receive from marketing efforts.
CMOS recognize the consequences of all this marketing waste.
Don’t consider what is being advertised
Do consider what is being advertised
80%
20%
Fewer than 20%of the individuals will consider the product or services for what’s being advertised.
How can marketing organizations produce quality content that reaches the right customers?
It is a practice rooted in lean manufacturing approaches that reduce unnecessary inventory by producing only what customers want, when they want it, always to precise specifications and superior quality.
Just-in-Time Marketing can help marketers drive personalized marketing at scale and enable better operational effectiveness to focus only on marketing initiatives that can convert sales.
Just-in-Time Marketing can impact the bottom line.
Accenture research shows that companies that excel at Just-in-Time Marketing are three times more likely than peers to report the strongest growth rates over one and three-year periods.
Just-in-Time Marketers
Everybody else
Source: Just-in-Time Marketing CMO survey, Accenture 2015
1-year growth than peers
% reporting greater than 25%
3-year growth than peers
40%
20%
30%
10%
30%
10%
38%
12%
Just-in-Time Marketers share important capabilities.
Customer knowledge
Channelcapability
Messaging agility
How can your marketing organization develop Just-in-Time Marketing capabilities?
A foundation for change. Start making these three things happen.
1. Transform the operating model 2. Support continuous planning
3. Measure results, and measure againSponsorship and governance
Processes and capabilities
Technology and data management
Organizational design and talent management
Companies around the world spent $600 billion on advertising in 2015. All of them have a choice to make for the future.
What choice will you make?
• Risk investments• Throw away resources• Wrong consumers • Miss opportunities
• Reinvent marketing quality • Target resources• Right consumers • Convert sales
Waste Win
vs.
Rob DavisManaging DirectorAccenture [email protected]
Joshua BellinResearch FellowAccenture Institute for High [email protected]
Accenture.com/justintimemarketing
Waste or Win?The Case for Just-in-Time Marketing
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About the Accenture Institute for High PerformanceThe Accenture Institute for High Performance develops and communicates breakthrough ideas and practical insights on management issues, economic trends and the impact of new and improving technologies. Its worldwide team of researchers collaborates with Accenture’s strategy, digital, technology and operations leadership to demonstrate, through original, rigorous research and analysis, how organizations become and remain high performers. For more information, follow @AccentureINST or visit www.accenture.com/Institute.
About Accenture InteractiveAccenture Interactive, part of Accenture Digital, helps the world’s leading brands drive superior marketing performance across the full multichannel customer experience. Accenture Interactive offers integrated, industrialized and industry-driven digital transformation and marketing solutions. To learn more follow us @AccentureSocial and visit www.accenture.com/interactive.
About AccentureAccenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 384,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
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% reporting greater than 26%1-year growth than peers
40%
20%
30%
10%
31%
10%
% reporting greater than 26%3-year growth than peers
40%
20%
30%
10%
38%
13%
Just-in-Time Marketers Report the Strongest Growth Rates
Just-in-Time Marketers
Everybody else Source: Just-in-Time Marketing CMO survey, Accenture 2015
% reporting greater than 26%1-year growth than peers
40%
20%
30%
10%
31%
10%
% reporting greater than 26%3-year growth than peers
40%
20%
30%
10%
38%
13%
Just-in-Time Marketers
Everybody else Source: Just-in-Time Marketing CMO survey, Accenture 2015
