XT … Rise of the new marketing organisation (by Forbes)
The business environment has changed dramatically over the past ve years, and the rules of marketing have changed. Thanks to the pervasiveness of technology solutions, it is easier to rapidly reach out to customers and to receive real-time feedback on the success of campaigns. At the same time, data-driven marketing requires changes in organizations—calling for new skills, new processes and new ways of looking at customer relationships. Marketing is no longer a series of projects and campaigns, it is now an ongoing process of engagement and learning.
The following are key ndings that have emerged from the latest Forbes Insights survey of top-level executives in large organizations:
1. DEMONSTRABLE RESULTS
Data-driven marketing has delivered demonstrable results in terms of customer loyalty, customer engagement and market growth. Organizations that are “leaders” in data-driven marketing report far higher levels of customer engagement and market growth than their “laggard” counterparts.
2. COMMITMENT TO DATA
Growth and commitment to data-driven marketing are on the rise, with most organizations planning to step up their efforts. However, about half of executives admit their efforts are lagging or are siloed across their enterprises. A majority are now collecting demographic data on customers, but most other data types remain uncaptured.
Data-driven marketing doesn’t happen in isolation, or solely within one section of the marketing department. Data-driven marketing is an enterprise-wide effort that requires data, expertise and innovative thinking from many parts of the enterprise. For most of the companies leading in this practice, there is also tight integration between organizations’ overall digital initiatives—adoption of big data, cloud, social and mobile— and marketing campaigns.
Despite increasing emphasis on data-driven marketing, the majority do not offer training and education to develop data-driven marketing skills. Leaders tend to offer programs and encourage employee development in this area.