Earlier this year, Accenture published the findings of its 2013/14 CMO Insights survey. The 2013/14 survey received responses from 581 senior marketers from 11 countries and 10 distinct industries. Ninety-one percent (91%) of the respondents were from companies with at least $1 billion in annual revenues, so the Accenture survey primarily reflects the views of marketers in larger enterprises.
Not surprisingly, most of the respondents to the Accenture survey believe that the marketing world is changing rapidly, largely because of the explosive growth of digital technologies and communication channels. Over three-quarters (78%) of the survey respondents said that marketing will change in fundamental ways over the next five years. In an earlier post, I discussed some of the specific changes in marketing that CMOs and other senior marketers expect to see over the coming half-decade.
In addition to looking at how marketing is changing, the Accenture survey also examined how marketing attributes and practices differed between high-growth companies and low-growth companies. The table below shows three of the attributes where the greatest gap exists between high-growth and low-growth companies.
As these survey results indicate, high-growth companies are much more likely than low-growth companies to use data and analytics to improve marketing performance, to recognize the strategic importance of digital marketing channels, and to provide consistent omnichannel customer experiences.
Of these three attributes/practices, none is more important for growth than providing consistent omnichannel customer experiences. Today, both consumers and business buyers expect to find (or be provided) current, detailed, engaging, and relevant marketing content, whenever they want or need it, in their own language, via the interaction channel of their choice. In addition, they expect information and content that is consistent across all touch points or interaction channels. In earlier research by Accenture (Digital Customer: It’s time to play to win and stop playing not to lose, 2013), 58% of survey respondents said they are frustrated with inconsistent experiences from channel to channel.
The delivery of consistent and engaging omnichannel customer experiences on a real-time basis cannot be accomplished without the right marketing technology tools. To maximize the effectiveness of marketing and the quality of customer experiences, enterprises will need a tightly integrated marketing execution platform to support the creation, management, and delivery of rich marketing content.