Marketing professionals had to think on their feet and implement new strategies during the pandemic. Now marketers are looking at new strategies to drive success in the next few years as the pandemic (hopefully) recedes. A report [download page] from Designit takes a look at what strategies marketing executives are implementing in the next 2 to 3 years in order to gain a competitive edge.
The pandemic had a number of effects on the industry, but perhaps the biggest was the need to accelerate digital transformation efforts. With more people relying on digital services for day-to-day tasks and entertainment, 8 in 10 respondents to this survey say accelerating their digital transformation plans was a successful strategy implemented during the pandemic.
Some 7 in 10 businesses also focused on using marketing strategies that delivered the biggest ROI. Likely included among these tactics were mobile, desktop and video ads. Others focused on understanding changing customer behaviors (63%), adapting messaging to the current situation (61%) and developing greater e-commerce, sales, direct-to-consumer and online capabilities (60%).
Consumers spending more time with online services and product providers led 3 in 4 to say their expectations for customer experience changed. And, with marketing professionals claiming customer data has an impact on their strategy, executives say that adopting strategies to align their brand with changing customer sentiments and expectations (82%), as well as taking steps to better understand customer behavior (74%) are top priorities in the next 12 months.
Also, in the next year, executives say their organizations will prioritize demonstrating ROI on marketing investments (82%) and focus on business agility to quickly react to market changes (81%), while others will prioritize attracting and retaining talent (60%). Additionally, 7 in 10 say their organization will be committing more budget towards improving customer experience.
In the long term, technology is front and center. While many professionals believe technology already takes precedence in marketing, martech budgets are expected to continue growing. In turn, executives say that to gain a competitive edge in the next two to three years, their organizations will focus on frictionless integration of emerging technologies (84%) and realizing the value and vision of martech investments (78%).
Executives will also focus on improving the customer experience by creating the next breed of content and experiences (82%), bettering personalization and ease at every digital touchpoint (80%), using data to create a 360-degree view of the customer (62%) and developing a differentiated customer experience (49%).
Read the full report here.
About the Data: Findings are based on a global Q1 survey of 1,011 marketing and CX executives across industries from companies with at least $100 million in annual revenues.