Aussie Marketers On Top For Adopting Modern Marketing Practices

Aussie Marketers On Top For Adopting Modern Marketing Practices
SHARE
THIS



Research from Forrester Consulting commissioned by software provider Oracle has found Australian marketers at the top of the international game.

The report Why You Need To Be A Modern Marketer: The Business Impact Of Marketing Maturity In The Age Of The Customer shows a strong correlation between modern marketing best practices and business success. The study found Australian marketers more willing to invest in marketing technology that supports a rich ecosystem of complementary, partner-created applications.

The study surveyed 523 marketing decision-makers across a range of industries in the United States, United Kingdom, Germany, France, and Australia, and found that organisations that embrace modern marketing processes outperform their non-modern marketing peers and competitors on key business performance indicators. The study defined modern marketers as marketers that use a combination of real-time predicative models and statistical techniques including intelligent targeting and cross-channel marketing attribution to ensure personalised customer engagement throughout each stage of the purchase journey.

The study found that when compared to marketers surveyed in the US, UK, Germany and France, Australian marketers lead the way when it comes to adoption of modern marketing. Australia specific findings from the report include:

  • Australian marketers are much more likely to use at least some form of marketing automation platform, with only seven percent saying they use none (versus 22 percent for the rest of the world). However, Australian marketers are still not likely to have a single, fully integrated, cross-channel platform (20 percent versus 15 percent of their international counterparts).
  • Australians are more willing to invest in marketing technology that supports a rich ecosystem of complementary, partner-created applications (83 percent of Australians versus 64 percent for the rest of the world).
  • When asked if they use technology and process to build profiles that help to better understand customer needs, more than half (53 percent) of Australian marketers strongly agreed with this statement versus 28 percent for the rest of the world. More Australians strongly agree that their marketing technology is more advanced when compared to their peers (47 percent versus 25 percent).

“To meet ever-increasing demands, marketers need to be able to quickly and easily optimise the customer experience and execute marketing programs that have a measurable impact on revenue,” said Andrea Ward, vice president, Marketing, Oracle Marketing Cloud.

“The survey results indicate that Australian marketers understand the need to adopt modern marketing technology and best practices in order to meet these demands. While it is evident that many organisations have quite a way to go in their journey to modern marketing, the strong correlation between marketing maturity and business success clearly demonstrates how modern marketers can take on a more strategic and impactful role within their organisations.”

Additional findings from the report include:

  • Revenue growth: 44 percent of modern marketers reported that their organisation’s revenues exceeded their plan by 10 percent or more over the last 12 months, versus only 25 percent of their non-modern marketing peers.
  • Market leadership: 95 percent of modern marketers reported they have some form of market leadership position, with 49 percent claiming that they are the sole market leaders.
  • Workplace excellence: 70 percent of modern marketers claimed that they had received national recognition as a “best place to work” at least once in the past three years, compared with only 38 percent of what the study defined as novice marketers.

Despite a clear and measurable impact on revenue, many businesses have yet to adopt modern marketing best practices. In fact, only 12 percent of respondents were considered “Modern” marketers, and most respondents were either identified as “Experienced” marketers (33 percent), “Developing” marketers (41 percent), or “Novice” marketers (14 percent).

To deliver on the full promise of customer centricity and achieve the business benefits of modern marketing, many marketers still need to rethink practices in the following areas:

  • Customer conversion and acquisition: More than half of the respondents (52 percent) still focus marketing efforts on conventional conversion and customer acquisition processes, and only 17 percent of marketers extend activity to include lead scoring, nurturing, behavioral triggers, and lead recycling.
  • Customer communications: Even while marketers strive to enhance engagement, 56 percent still conduct mostly one-way, outbound communications.
  • Cross-channel integration: More than half of marketers (56 percent) admit their marketing infrastructure is separated by channel and lacks integration.

Please login with linkedin to comment

Carrie Bickmore Cinema Delta Air Lines

Latest News

Swinburne University Of Technology And FourthRev Help Students Gain Hands On Digital Skills
  • Marketing

Swinburne University Of Technology And FourthRev Help Students Gain Hands On Digital Skills

Swinburne University of Technology has launched a series of  Bootcamp Graduate Certificate courses, developed in partnership with FourthRev. The courses, an Australian-first, will upskill career changers and provide students the capabilities required to thrive in the digital economy. They are available on-campus and through its online arm, Swinburne Online. Alongside completing projects which will emulate […]

PayPal Partners With Welcome To Country
  • Marketing
  • Media

PayPal Partners With Welcome To Country

PayPal has partnered with Welcome to Country, Australia’s first Indigenous-led not-for-profit marketplace, which showcases businesses that support Aboriginal and Torres Strait Islander communities. Welcome to Country launched in 2019, providing an online platform for Indigenous experience providers across tours, day treks, scenic flights, bush food, festivals, art and cultural experiences. When the pandemic hit, the […]

Former Deputy PM Julie Bishop Now Has Her Own Barbie Doll
  • Marketing

Former Deputy PM Julie Bishop Now Has Her Own Barbie Doll

Former liberal politician and female icon Julie Bishop has further cemented her celebrity status by scoring her very own Barbie doll. According to The Sydney Morning Herald, Barbie creators Mattel, created the Barbie doll in Bishop’s likeness to honour her achievements. Unfortunately, the Julie Bishop Barbie won’t be for sale. Instead, the one-off doll was […]

Digital Marketing Agency Whitehat Debuts New Website
  • Marketing

Digital Marketing Agency Whitehat Debuts New Website

Full-service digital marketing agency Whitehat Agency has launched its new website and branding, with the end-to-end project delivered by its own team of experienced in-house website designers, developers and UX specialists. After a challenging 2020,  Whitehat Agency has experienced a very positive 2021 to date, onboarding nine new clients including The Dog Mum, Handpicked Wines, Compost […]

Fintech Start Up DiviPay Bolster Team With Head Of Accounting
  • Marketing

Fintech Start Up DiviPay Bolster Team With Head Of Accounting

Fast-growing fintech startup DiviPay has announced the appointment of one of Australia’s most influential and reputable public figures in the accounting world, Trent McLaren, as its head of accounting. The move will enable Divipay to expand its reach into the accounting industry, with the aim of growing its business customer base. DiviPay, Australia’s first virtual […]

Adhesive Wins PR For Domain Group
  • Marketing

Adhesive Wins PR For Domain Group

Independent agency Adhesive has been appointed the public relations agency of record in Australia for the Domain Group, a leading property technology and services marketplace. The appointment will see Adhesive support PR & communications and campaign media activity for Domain, across consumer, corporate and B2B market remits. Adhesive will work closely with Domain’s in-house communications, […]

New Podcast ‘Come Out Wherever You Are’ Launches On LiSTNR For Pride Month
  • Media

New Podcast ‘Come Out Wherever You Are’ Launches On LiSTNR For Pride Month

Sean Szeps is a gay father and a proud member of the LGBTQIA+ community who believes he does not know enough about those within his community that have different gender and sexual identities to his own. Feeling compelled to explore the unique experiences of every member of the community, Szeps’ new podcast, Come Out Wherever […]