[Infographic] B2C Marketers Speak—5 Predictions About The Future of Marketing
We recently shared results from an Economist Intelligence Unit survey commissioned by Marketo, where we asked CMOs and senior-level marketers about the future of marketing. As we return from Austin for SXSW, I wanted to take a deep dive into survey results from these B2C marketers–the creative minds typically responsible for the expensive, yet memorable ads and branding, that fueled plenty of water cooler discussions across the world. A closer look at survey responses told us that consumer marketers are feeling an urgent need to overhaul the way their programs are designed and measured.
In a world where everyone is always connected, always on-the-go and always demanding a personalized experience, the traditional mass marketing strategies of billboards and TV ads don’t hold the same weight with consumers. And with nearly 3,000 marketing messages bombarding consumers’ screens every day, it comes as no surprise that two-thirds of the consumer marketers surveyed (67%) feel that they need to rethink their tried and true marketing strategies in order to break through the noise.
Here’s a look at how consumer marketers see the future of marketing:
1) Consumer Marketers Will Feel the Pressure to Impact Revenue
Always seen as the ‘soft’ function of the organization, justifying marketing spend has gone hand-in-hand with the classic John Wanamaker line, “half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Of the B2C marketers surveyed, over half (55%) feel that their marketing departments are regarded as little more than a cost center by the rest of their organizations. The next 3-5 years, however, will be the time of real change. By the year 2020, 69% of marketers believe their departments will be perceived as a revenue driver for the organization.
2) Marketers Will Leverage Data and Digital Strategies to Understand Their Customers and Prove Impact on Revenue
Less than half of surveyed B2C marketers felt that their marketing team currently uses data to effectively learn about and engage with their customers today. 72% of marketers agreed that learning to use data to better reach their customers will be a priority in the next 3-5 years. The next 12 months will see major investments in the shift to digital marketing and engagement (29%) and measuring marketing ROI (29%).
3) B2C Marketers Will Measure Engagement by Happy Lifelong customers, Not Brand Awareness
66% of the B2C marketers surveyed said they defined “engagement” as customer renewals, repeat purchases, and customer retention. Only 10% of surveyed marketers defined engagement as brand awareness. In order to keep these customers happy, 68% of marketers acknowledged that it is the marketing function’s responsibility to build personal relationships, loyalty, and advocacy among customers today.
4) Social Networks and Mobile Dominate B2C Marketing Investments
Consumer marketers ranked the top four areas of investments over the next 12 months, which indicates a strong focus on reaching customers where they like to spend their time, but with a focus on maintaining smart design and branding. According to the survey, social marketing is in the lead (45%), followed closely by mobile (31%), the standby of email marketing (25%), and then creative and design (22%).
5) The Internet of Things and Beacons Will Be Game Changers for Consumer Marketers
When asked which trends will shape the future of marketing, B2C marketers were evenly split between the always-connected possibilities of the Internet of Things (45%) and beacons (45%), or real-time mobile personalized interactions. Just over a quarter of B2C marketers saw wearable technology as the next frontier for their marketing programs.
Take a look at our infographic below and if you want to learn more about the findings, check out the full report: The Rise of the Marketer: Driving Engagement, Experience and Revenue.
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