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Rethinking the Role of Marketing

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Rethinking the Role of Marketing, reveals that top performing marketing teams are taking full control of the customer lifecycle – everything from customer acquisition, to the more lucrative customer retention and expansion.

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Rethinking the Role of Marketing

  1. 1. Rethinking the Role of Marketing Atri Chatterjee Act-On Software Ian Michiels Gleanster Research
  2. 2. Agenda •  About this Study •  Key Findings •  Summary & Recommendations
  3. 3. Key Objectives of Study Understand marketers’ perception of the customer relationship, customer lifecycle and their role in it Determine the major challenges faced by marketers in supporting the customer lifecycle Identify the key strategies and tactics used by marketers today Discover any differences between top performers and the rest ?
  4. 4. Overarching Fundamental Question Do marketers need to RETHINK THEIR ROLE in the context of the customer lifecycle? ?
  5. 5. Survey Audience & Methodology Study conducted in Q4 2014 & Q1 2015 Focus on Mid-Sized B2B Businesses Survey conducted Online
  6. 6. Agenda •  About this Study •  Key Findings •  Summary & Recommendations
  7. 7. Wide Perception of CRM CRM means many things to many marketers – strategy, process, technology, department
  8. 8. Most Marketers Do Value the Customer Lifecycle
  9. 9. Marketers NOT Empowered to Own Customer Lifecycle 8 out of 10 Marketers believe that marketing currently has a peripheral role in the customer relationship feel that sales and support currently have responsibility for the customer experience 85% of Marketers Over 62% of Marketers thought marketing should own the end-to-end customer experience
  10. 10. •  Beat 2013 revenue plans •  Estimate that 90% of their customers are happy •  Consider themselves effective at managing the end-to-end customer lifecycle •  Are 2% of the surveyed population Top Performers Distinguish Themselves
  11. 11. Average Firms Focus on Acquisition; Top Performers on Retention and Expansion % OF TIME % OF BUDGET Average firms Top Performers Average Companies spendEffort acquiring new customers: Average firms spend 67% Top Performers spend 52% Average Companies spendBudget acquiring new customers: Average firms spend 54% Top Performers spend 46%
  12. 12. Top Performers Use Different Strategies PLANNING TACTICS TECHNOLOGY & METRICS Are almost twice as likely to tie objectives to the entire customer lifecycle than Average firms •  Spend 41% more time on customer communication •  Use personalization over 75% more than Average firms •  Employ behavior and segmentation over 30% more than Average firms •  20% more likely to use marketing automation technology •  Emphasizes more significant metrics like response rates and satisfaction scores over elementary metrics like number of leads
  13. 13. Top Performers Focus on People & Accountability Believe getting the right talent is a challenge Believe there is no accountability for process improvements Believe that leadership did not value new B2B marketing tactics Average firms 50% Top Performers 92%: Average firms 55% Top Performers 28%: Average firms 48% Top Performers 36%:
  14. 14. Process Challenges Abound All marketers struggle with process Top Performers doing better 50% 59% 45% 50% 55% 60% Top Performers Average firms Legacy processes are part of culture 39% 82% 25% 45% 65% 85% Top Performers Average firms Decisions not metric based 30% 71% 20% 40% 60% 80% Top Performers Average firms Lack of process improvement
  15. 15. Technology Challenges Over 83% consider the use of multiple systems to manage multiple marketing channels a top challenge Over 56% of marketers say integration of marketing and sales technology is a top challenge Over 41% find configuring campaigns a top challenge …with 84% of Top Performers saying it takes too long
  16. 16. Agenda •  About this study •  Key Findings •  Summary & Recommendations
  17. 17. Summary of Findings 1   There is a massive misalignment of efforts and objectives at Average B2B mid-sized firms. 2   The customer lifecycle needs a LEADER 3   Marketing technology is key to monitoring, measuring, and engaging with customers across the entire lifecycle
  18. 18. Recommendations to Improve Performance 1   Create a customer journey map and take responsibility •  Marketing is in a unique position to interact with customers during this entire process. Don’t lose the opportunity! 2   Focus on new customer acquisition AND engagement with existing customers •  Top Performers spend half their marketing effort on this and it pays off 3   Partner with an agency to get specialized help & step up your game •  Top performance comes with top talent which is hard to find •  An agency can help execute as well as train existing marketers 4   Segment and personalize to improve engagement •  Whether it is interacting with prospects or customers, use behavior and demographics to segment •  Personalize interactions for each segment at each stage in the journey
  19. 19. THANK YOU More Information: – Download full study: https://www.act-on.com/rethinking-the-role-of-marketing/ Contact Act-On: +1 (877) 530-1555 sales@act-on.com Contact Gleanster: www.gleanster.com info@gleanster.com