Fifty percent of marketers don’t have a clear view of their customers’ decision making journey, or a clear understanding of where they need to focus their marketing efforts, according to research released Thursday by the Association of National Advertisers (ANA).
Results of the “Marketing’s Moment: Leading the Disruption” survey—conducted with McKinsey & Co.—were presented during the ANA Masters of Marketing conference in Orlando.
Sixty-six percent of respondents said they understand marketing disruptions and are building responses into their strategy. But, only 13% said they are taking action and see measurable impact.
Active testing and learning is the top strategy for responding effectively to marketplace disruptions for 90% of marketers, but only 55% reported they were doing analysis of these initiatives as frequently as necessary.
An overwhelming majority (96%) said being able to make data-informed decisions is the most needed capability when it comes to responding to disruptions. But, more than a third aren’t using data to make decisions and almost half admitted to not having the right analytics in place.
Other problems reported by respondents included having a fractured view of the customer due to the continuing existence of silos in the organization, a lack of a formal content strategy and leadership not feeling empowered to test and innovate.
Mobile was the top focus for increased investment according to the survey (85%), followed by content/new customer experiences (82%), and big data/advanced analytics (74%).
CMOs need to take charge and effect change, said Bob Liodice, president and CEO of the ANA. “Marketing aspirations are outstripping marketing operations.”
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