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Rethinking the Role of Marketing
Atri Chatterjee Act-On Software
Ian Michiels Gleanster Research
Agenda
• About this Study
• Key Findings
• Summary & Recommendations
Key Objectives of Study
Understand marketers’ perception of the customer relationship, customer lifecycle and their role in it Determine the major challenges faced by marketers in supporting the customer lifecycle Identify the key strategies and tactics used by marketers today Discover any differences between top performers and the rest
?
Overarching Fundamental Question
Do marketers need to RETHINK
THEIR ROLE in the context of the customer lifecycle?
?
Survey Audience & Methodology
Study conducted in
Q4 2014 & Q1 2015
Focus on
Mid-Sized B2B
Businesses
Survey conducted Online
Agenda
• About this Study
• Key Findings
• Summary & Recommendations
Wide Perception of CRM
CRM means many things to many marketers – strategy, process, technology, department
Most Marketers Do Value the Customer Lifecycle
Marketers NOT Empowered to Own Customer Lifecycle
8 out of 10 Marketers believe that marketing currently has a peripheral role in the customer relationship
feel that sales and support currently have responsibility for the customer experience
85% of Marketers
Over 62% of Marketers thought marketing should own the end-to-end customer experience
• Beat 2013 revenue plans
• Estimate that 90% of their customers are happy
• Consider themselves effective at managing the end-to-end customer lifecycle
• Are 2% of the surveyed population
Top Performers Distinguish Themselves
Average Firms Focus on Acquisition; Top Performers on Retention and Expansion
% OF TIME % OF BUDGET
Average firms
Top Performers
Average Companies spend Effort acquiring new customers: Average firms spend 67% Top Performers spend 52%
Average Companies spend Budget acquiring new customers: Average firms spend 54% Top Performers spend 46%
Top Performers Use Different Strategies
PLANNING
TACTICS
TECHNOLOGY & METRICS
Are almost twice as likely to tie objectives to the entire customer lifecycle than Average firms
• Spend 41% more time on customer communication • Use personalization over 75% more than Average firms • Employ behavior and segmentation over 30% more than
Average firms
• 20% more likely to use marketing automation technology • Emphasizes more significant metrics like response rates
and satisfaction scores over elementary metrics like number of leads
Top Performers Focus on People & Accountability
Believe getting the right talent is a challenge
Believe there is no accountability for process improvements
Believe that leadership did not value new B2B marketing tactics
Average firms 50% Top Performers 92% : Average firms 55% Top Performers 28% : Average firms 48% Top Performers 36% :
Process Challenges Abound All marketers struggle
with process Top Performers doing better
50%
59%
45% 50% 55% 60%
Top Performers
Average firms
Legacy processes are part of culture
39%
82%
25% 45% 65% 85%
Top Performers
Average firms
Decisions not metric based
30%
71%
20% 40% 60% 80%
Top Performers
Average firms
Lack of process improvement
Technology Challenges
Over 83% consider the use of multiple systems to manage multiple marketing channels a top challenge
Over 56% of marketers say integration of marketing and sales technology is a top challenge
Over 41% find configuring campaigns a top challenge …with 84% of Top Performers saying it takes too long
Agenda
• About this study
• Key Findings
• Summary & Recommendations
Summary of Findings
1 There is a massive misalignment of efforts and objectives at Average B2B mid-sized firms.
2 The customer lifecycle needs a LEADER
3 Marketing technology is key to monitoring, measuring, and engaging with customers across the entire lifecycle
Recommendations to Improve Performance
1 Create a customer journey map and take responsibility
• Marketing is in a unique position to interact with customers during this entire process. Don’t lose the opportunity!
2 Focus on new customer acquisition AND engagement with existing customers
• Top Performers spend half their marketing effort on this and it pays off
3 Partner with an agency to get specialized help & step up your game
• Top performance comes with top talent which is hard to find • An agency can help execute as well as train existing marketers
4 Segment and personalize to improve engagement
• Whether it is interacting with prospects or customers, use behavior and demographics to segment
• Personalize interactions for each segment at each stage in the journey
THANK YOU
More Information: – Download full study: https://www.act-on.com/rethinking-the-role-of-marketing/
Contact Act-On:
+1 (877) 530-1555 [email protected]
Contact Gleanster:
www.gleanster.com [email protected]
