Forbes Insight and Oracle Marketing Cloud have conducted a global study of brand and agency executives to find out how to best execute campaigns and deliver good customer experience. But as it turns out, execs aren’t all that convinced.
The study, titled ‘The Age of Brand, Agency & Customer Collaboration: 4 Keys to Success in Translating Marketing Visions Into More Engaged Customers’, survey 255 brand and agency execs across a range of industries in North America, Europe, APAC and LATAM.
And the results? With 60 per cent of respondents saying their roles and resposnibilities had changed dramatically over the past two years, most execs believe that this evolving trend is negatively impacting customer experience, and subsequently, business results.
These power players were concerned about a number of areas:
Brand and agency collaboration
Almost half of marketing executives (48 per cent) said that evolving brand and agency roles are making successful collaboration more difficult.
Delivering a consistent customer experience
More than a third of respondents (36 per cent) said their organisations aren’t highly effective when it comes to collaborating with brand/agency counterparts to translate a marketing vision into a targeted, cross-channel program.
38 per cent of respondents said they are not able to effectively create and deliver timely content tailored to specific customer personas.
More than three-quarters of respondents (81 per cent) are unable to maximise customer data to create new and impactful marketing programs.
Utilising marketing technology
Only 19 per cent of stakeholders are very satisfied with current marketing technology.
And these challenges threaten the very thing these execs are most focused on – increasing sales and bringing in new customers, with more than 80 per cent putting these goals at the top of their priority list moving forward.
Enhancing customer loyalty (79 per cent) and expanding brand awareness (78 per cent) were also identified as key strategic goals for the next 12 months.
To reach these goals and address the challenges presented by evolving brand and agency roles, 60 per cent of respondents stated that closer brand and agency collaboration would become even more important in the coming year.
When asked what areas will have the greatest impact on more effective collaboration between brand and agency peers, respondents identified being able to capitalise on customer data/analytics as the top priority.
“As marketers we have access to more customer data and marketing technology than at any point in history, but as this study shows, fully capitalising on that data and the promise of technology is still a challenge for many brands and agencies,” Oracle Marketing Cloud vice president of marketing Andrea Ward said.
“To unlock this potential, brands and agencies need to rethink existing roles, responsibilities and processes in order to successfully mine all of today’s rich data sources, capitalise on the latest marketing technologies, enhance professional and personal skills, and balance local and global imperatives.”