Let’s focus on what it takes to achieve marketing success, the trends in marketers’ goals for 2023, and their self-assessment in achieving an objective, data-driven culture.
The key factors for marketing success with data and Salesforce
Accurate and accessible data are crucial! Over half of marketers believe that data veracity and data accessibility are the most important factors in driving marketing success, and half of marketers believe that providing visibility to leadership is very important. Also trending as a “top initiative for marketing success” is the ability to connect marketing and sales data in order to highlight how important it is to be able to prove ROI and tie marketing to business outcomes.
Extent to Which Marketers Consider the Following Important for Their Marketing Performance Success
Marketers continue to face challenges when it comes to data and measurement, but the outlook for next year shows that they are focused on making improvements. Top priorities include optimizing marketing spend, creating a strategic view of overall marketing performance, and improving their ability to understand and engage customers. In order to achieve these improvements, marketers have a variety of initiatives in place for the next 24 months.
Prioritized Improvements Marketers Seek to Make over the Next Year
1) Optimizing marketing spend
2) Strategic view of overall marketing performance
3) Better ability to understand/engage customers
4) Efficiency of data management/preparation
5) Revenue growth and campaign KPI performance
The challenge is to empower your marketing team(s) to test things and give them the ability to learn based on the data and the insights. Empower them to be creative and give them the runway to take off, as opposed to making them [operate] on a short runway that doesn’t have a ton of support behind it
Ranking of Top Growth-Related Business Initiatives for the Next 24 Months
1) Connected customer experience
2) Ecommerce growth
3) Sales growth via new interactive chat, mobile, and AI/bot-driven experiences
4) Acquisition of new products
5) Direct-to-consumer or services revenue growth
As data is such a key component of their work, marketers view a data-driven culture as critical to their success. And this transformation is well underway. Marketers report they’re making good progress in essential areas such as gaining support from leadership, measuring marketing ROI, and leveraging technology such as AI and marketing analytics platforms to gain efficiencies across their data.
Marketers’ Self-Assessment of Their Success to Transform to a More Data-Driven Culture
Support from executive leadership: 60%
Tracking ROI across each marketing investment: 58%
Investment in using AI-powered solutions to uncover insights at speed: 58%
Investment in marketing analytics platform/technology: 57%
Cross-team collaboration in understanding analytics reporting and to support decision-making: 54%
Cross-team alignment on data and using insights/analytics to make every decision data-driven: 51%
With continued progress on the strategic alignment of people, processes, and technologies to a unified data foundation for analytics, marketers are well-prepared to embrace their role as growth drivers who can successfully optimize engagement with today’s digital first customers.
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