A brand new report finds marketers are facing a rapidly evolving growth mandate and marketing data is key to successfully meeting challenging environment
Australian marketers have almost universally shifted their priorities to focus on marketing-led growth, marketing efficiency and improving ROI, according to a new report.
The Data, Growth and the New Marketing Mandate, the first Asia-Pacific Marketing Intelligence Report produced by Salesforce Datorama in partnership with marketing research agency, The Leading Edge, examines how over 1000 marketers across APAC (285 across Australia and New Zealand) are integrating their marketing data to measure impact and business growth. Along with sheding light on the rapidly evolving growth mandate for marketers across the region, it unveils the top challenges they face.
“Marketers are seeing their role evolve as they are responsible for propelling business-wide outcomes. As they become increasingly accountable for operationalising growth mandates across the entire organisation, they need to embrace a data-driven culture and modernise their approach to unifying marketing data and measuring performance,” said Salesforce Datorama senior director product marketing, Jay Wilder.
However, some of the biggest barriers marketers face in driving growth revolve around data. The report found data mismanagement, lack of a unified view of performance and lack of real-time insights as the top three challenges for respondents.
An although 86 per cent of A/NZ marketers see the importance of a complete view of cross-channel marketing, they face a number of roadblocks when it comes to integrating their data for that holistic view, according to the report. It has found 69 per cent of marketers still integrate data manually to an extent and 69 per cent of those surveyed spend a week or more on harmonising data from disparate channels, for reporting and analytics.
Yet data integration and management are not the only challenges marketers face. The study reveals room for improvement when it comes to data analysis and optimisation, with 73 per cent of marketers not having access to real-time insights, early half experiencing misalignment across teams on measurement and reporting, and a third find sharing and collaborating on data analysis a challenge.
In terms of their data journey, prompted by the shift in priorities to focus on business growth, marketers are making progress as they move forward. The report finds there is growing support from senior leaders for a stronger uptake of data-driven marketing (61 per cent), as well as investments in marketing analytics technology (62 per cent) and alignment on the KPIs that matter the most (62 per cent).
“A successful growth marketing strategy requires the strategic alignment of people, processes and technologies. This will allow marketers to continue advancing their data and analytics capabilities to power the most effective engagements with the digital customer and drive business impact,” said Wilder.
Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, follow our regular updates via CMO Australia's Linkedin company page, or join us on Facebook: https://www.facebook.com/CMOAustralia.
In this latest episode of our conversations over a cuppa with CMO, we catch up with the delightful Pip Arthur, Microsoft Australia's chief marketing officer and communications director, to talk about thinking differently, delivering on B2B connection in the crisis, brand purpose and marketing transformation.
The lessons emerging from a year like 2020 are what make the highlights, not necessarily what we gained. One of these is renewed emphasis on sustainability, and by this, I mean complete circular sustainability.
The past 12 months have been a confronting time for marketers, with each week seemingly bringing a new challenge. Some of the more notable impacts have been customer-centric, driven by shifting priorities, new consumption habits and expectation transfer.
ABM has been the buzzword in digital marketing for a while now, but I feel many companies are yet to really harness its power. The most important elements of ABM are to: Identify the right accounts; listen to these tracked accounts; and hyper-personalise your content to these accounts to truly engage them. It’s this third step where most companies struggle.
Hey there! Very interesting article, thank you for your input! I found particularly interesting the part where you mentioned that certain...
Martin Valovič
Companies don’t have policies to disrupt traditional business models: Forrester’s McQuivey
I too am regularly surprised at how little care a large swathe of consumers take over the sharing and use of their personal data. As a m...
Catherine Stenson
Have customers really changed? - Marketing edge - CMO Australia
The biggest concern is the lack of awareness among marketers and the most important thing is the transparency and consent.
Joe Hawks
Data privacy 2021: What should be front and centre for the CMO right now
Thanks for giving these awesome suggestions. It's very in-depth and informative!sell property online
Joe Hawks
The new rules of Millennial marketing in 2021
In these tough times finding an earning opportunity that can be weaved into your lifestyle is hard. Doordash fits the bill nicely until y...
Fred Lawrence
DoorDash launches in Australia